Early movers: LULU, NFLX, ALL, RCL, MW, P & more

Check out which companies are making headlines before the bell on Thursday:

Lululemon - The apparel retailer beat estimates on both the top and bottom lines for its most recent quarter, but investors are focusing on a cut in Lulu's full-year forecast. The company added that it's recovered from problems caused by the recall of its popular line of yoga pants.

Netflix - Morgan Stanley cut Netflix shares to "equalweight" from "overweight" on a valuation basis, saying a fundamental mis-pricing that's been in place over the past twelve months has now been corrected.

Allstate - Wells Fargo upgraded the insurer to "outperform" from "market perform", saying Allstate has several positive trends unique to the company in an industry where the outlook is upbeat overall.

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Royal Caribbean - The cruise line operator more than doubles its quarterly dividend to 25 cents per share from 12 cents. It's also named former Ernst & Young CEO William Kimsey as its first lead director.

Pandora - The online radio site has named former Microsoft executive Brian McAndrews as its new chief executive officer. He will replace Joe Kennedy, who had announced in March that he would be leaving the company.

Qualcomm - The chipmaker has announced a new $5 billion stock buyback program, replacing an earlier $5 billion program that had been announced in March. Qualcomm had already purchased more than half the stock authorized under the previous program.

Mead Johnson Nutrition - Mead Johnson said its board approved a $500 million share repurchase plan. The nutrition products company still has about $9.7 million in authorizations remaining from a prior repurchase plan.

Men's Wearhouse - The men's clothier cut its full year earnings guidance, as retail clothing sales fall below the company's initial forecasts. The company reported profit of $1.01 per share for its most recent quarter, below estimates of $1.14, with revenue also below analyst forecasts.

SiriusXM Radio - The satellite radio company is being sued by record companies Capitol Records, Sony Music, Universal Music, and Warner Music, which claim Sirius is not paying royalties for recordings from prior to 1972.

Wal-Mart - The retailer has announced "aggressive" pricing for Apple's (AAPL) newest iPhones. It's selling the iPhone 5S for $189, $10 less than Apple's stated price, and the iPhone 5C for $79 compared to the Apple list price of $99.

Zynga - Evecore Partners has upgraded the online game provider's stock to "equal weight" from "underweight", based on increasing user engagement and potential for a continuation of that trend.